Analyst Marie Thibault of BTIG reiterated a Buy rating on Ceribell, Inc., retaining the price target of $30.00.
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Marie Thibault has given her Buy rating due to a combination of factors, primarily the recent FDA 510(k) clearance for Ceribell, Inc.’s Delirium solution. This clearance was achieved earlier than anticipated, showcasing the company’s ability to meet and exceed regulatory expectations. The new algorithm, which is the first FDA-cleared device for delirium, enhances the existing Ceribell System by providing real-time monitoring for delirium alongside continuous seizures and electrographic status epilepticus (ESE). This innovation is expected to significantly impact patient outcomes, given the high incidence of delirium and its associated risks.
Furthermore, the company’s proactive steps, such as applying for a New Technology Add-on Payment (NTAP) with CMS, indicate a strong strategic approach to market expansion. The proprietary survey conducted by BTIG also highlights a substantial interest from clinicians and hospital decision-makers, projecting a notable increase in demand for Ceribell’s products. This enthusiasm among users suggests a promising market potential and supports the Buy rating, as it indicates a likely expansion of the company’s total addressable market (TAM) with the new delirium indication.
CBLL’s price has also changed moderately for the past six months – from $17.810 to $21.220, which is a 19.15% increase.